Kuala Lumpur, Dec 30: Kee Ming Group Berhad has received approval from Bursa Malaysia Securities Berhad for its proposed listing on the ACE Market, paving the way for the mechanical and electrical (M&E) engineering specialist to raise funds for its next phase of growth.
With more than 12 years of industry experience, the Group has built a reputation as a provider of comprehensive M&E solutions. I
ts services span electrical engineering works, including high-voltage (HV), medium-voltage (MV), low-voltage (LV) and extra-low voltage (ELV) installations, as well as mechanical engineering services such as air-conditioning and mechanical ventilation (ACMV) and fire protection systems.
Kee Ming is also active in clean energy infrastructure, offering solar photovoltaic (PV) installations and electric vehicle (EV) charging solutions.
The initial public offering (IPO) will consist of a public issue of 66.63 million new shares and an offer for sale of 16.25 million existing shares, totalling 82.88 million ordinary shares.
This represents 25.50 per cent of the enlarged issued share capital of 325.00 million ordinary shares.
The public issue comprises 16.25 million shares or 5 per cent of the enlarged share capital for the Malaysian public, 8.13 million shares or 2.5 per cent for eligible directors, employees and other contributors to the Group, 40.63 million shares or 12.5 per cent via private placement to Bumiputera investors approved by the Ministry of Investment, Trade and Industry (MITI), and 1.63 million shares or 0.5 per cent via private placement to selected investors.
Separately, the offer for sale involves 16.25 million existing shares or 5 per cent of the enlarged share capital, also via private placement to selected investors.
Ir. Liew Kar Hoe, Non-Independent Executive Director and Managing Director of Kee Ming Group Berhad, commented, “Securing Bursa Securities’ approval for our Listing marks an important milestone in Kee Ming’s growth journey. From our beginnings as an M&E engineering contractor in Perak, we have grown into a specialist with capabilities spanning electrical works, ACMV and fire protection systems, solar PV installations and EV charging solutions. The IPO will strengthen our financial position and enable us to undertake more projects or projects of higher value that support Malaysia’s industrial growth and clean energy transition.”
Over the years, Kee Ming has built a diversified customer base across Malaysia, completing projects in key states such as Perak, Selangor, Pahang, Kuala Lumpur, Penang and Kedah.
Its track record covers industrial, commercial and residential developments, as well as projects in the clean energy segment.
The Group undertakes M&E engineering contracts as both a main contractor and subcontractor and benefits from a strategic partnership with Solarvest Holdings Berhad, a Main Market–listed clean energy solutions provider.
Solarvest currently holds a 30.00 per cent equity interest in Kee Ming, which will be diluted to 23.85 per cent post-IPO.
The collaboration allows both companies to leverage complementary strengths and customer networks, particularly in delivering solar PV engineering, procurement, construction and commissioning (EPCC) projects that require strong M&E expertise.
TA Securities Holdings Berhad is the Principal Adviser, Sponsor, Sole Placement Agent and Sole Underwriter for the IPO, while Eco Asia Capital Advisory Sdn. Bhd. is the Financial Adviser.
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